Bitcoin traders brace for volatile price swings ahead of U.S. election

A report from Derive.xyz shows that options for Bitcoin in October are evenly split between bearish and bullish positions, according to Bloomberg. This reflects that traders are positioned for both upward and downward movements. Market volatility is expected to increase after Election Day, as indicated by a 30-day gauge of implied volatility in Bitcoin. This index, derived from CME Group options pricing and compiled by CF Benchmarks Ltd., has reached its highest point since August's global market upheaval. Data from the Deribit exchange suggests that Bitcoin's price could vary between $60,000 and $80,000 in the weeks following the U.S. election, reflecting peak open interest in both bearish and bullish options.